Industry Stalwart Ramesh Srinivasan Joins BankBazaar As CFO

By BankBazaar | September 8, 2017

Industry Stalwart Ramesh Srinivasan Joins BankBazaar As CFO

BankBazaar, India’s leading paperless financial marketplace is glad to announce the appointment of Ramesh Srinivasan as its Chief Financial Officer. Ramesh joins BankBazaar from Hitachi Payment Services where he held the role of Financial Advisor.

Ramesh comes with 22 years of experience in the Banking & Financial Services Industry (BFSI) segment. He boasts having worked with companies of repute such as AT&T, NCR and Optimus.

Ramesh will be based in Chennai and will be instrumental in leading the company towards an IPO release. He is a valuable asset to the company and his vast experience and knowledge in the field of finance are sure to help BankBazaar see new heights.

Speaking on the appointment, Adhil Shetty CEO BankBazaar said, “This is a very exciting time for BankBazaar. Our technology and paperless platform have made BankBazaar the flag-bearer in helping customers access the right financial products online in the safest and simplest manner. Now we are looking to consolidate our successes and plan ahead with an eye on releasing our IPO in 2020-22. We are confident that Ramesh’s expertise in developing financial processes will take us further on our path.”

Additional Reading: BankBazaar Goes Paperless! Get Loans In A Day

At a time when most sectors and businesses are thinking of downsizing and cost-cutting, BankBazaar continues to be in expansion mode. BankBazaar had earlier announced that it would be ramping up hiring in 2018.

As of August 2017, the company has welcomed more than 130 new employees and is in the process of recruiting more. The company anticipates that this expansion will drive its vision and roadmap.

Adhil Shetty explains, “We are working on building a bigger and more diverse team that can take on the challenges thrown up by next stage of the business cycle. This new team will drive the next phase of growth and profitability for BankBazaar. The expectations are high and so is our enthusiasm.”

BankBazaar is seeing remarkable growth and recording new highs in terms of metrics and numbers. The number of unique visitors per month almost doubled to 17 million in March 2017 from a year ago. This is despite a 50% reduction in cost per customer acquisition. BankBazaar also announced positive unit economics on every transaction in the last financial year. The company is on track to achieve EBITDA profitability from December 2017.

One of the highlights has been the launch and the success of the paperless platform – the world’s first multi-brand platform for unsecured credit products such as Personal Loans and Credit Cards. The year 2016 also saw BankBazaar’s expansion into the international market beginning with Singapore followed by Malaysia in 2017.

Additional Reading: BankBazaar Expands Internationally Into South East Asia

BankBazaar is funded by global investors such as Walden International, Sequoia Capital, Fidelity Growth Partners, Mousse Partners and Amazon. The company has received an investment of $80 million till date.

If you’d like to be a part of BankBazaar’s mission to help people access the right financial products, then join our growing family. Check our careers page for more.

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